High Car Prices Increase Risk of Improper Repossession by Lenders, Servicers, and Investors
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the heated auto market. A compliance bulletin issued today reveals conduct observed during CFPB examinations and enforcement actions, including the illegal seizure of cars, sloppy record keeping, unreliable balance statements, and ransom for personal property.
CFPB takes aim at Illegal Auto Repossessions – CFPB – The Consumer Financial Protection Bureau
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